While Husky Energy may be Calgary [url=http://zcodesystemvipreview.com/copy-our-bets-review]Copy Our Bets Review[/url] based, it remains controlled by Hong Kong billionaire Li Ka-shing. China's big announcement in mid July invited the more autonomous foreign oil companies to explore in as many as nine blocks in northwestern China. The target is the Xinjian's Tarim Basin, which has proven reserves of six billion tons of oil and eight trillion cubic meters of natural gas. Analysts heralded this as China's biggest step forward in cooperating with major foreign oil and gas companies since 1994. China is eager to move these projects

In late September, the city of Shenzhen, in China's southern province of Guangdong, will begin generating electricity powered by Australian gas. Northwest Shelf Australia LNG PTY plans to annually ship over three million tons of Liquefied Natural Gas for the next 25 years. The LNG contract valued at $25 billion is Australia's largest resource contract. It angered many Australians when CNOOC became the first foreign country to own a stake in Australia's gas reserves. The gas had been allocated for domestic use in Australia. The deal entitled the Chinese firm to own about 1.1 trillion cubic feet of gas and another 210 million barrels of liquids of Western Australia's gas project. Because of previous long-term contracts with Japan, China may not be able to sign new gas deals with Australia until after 2010.

"Right, we see in the LNG (liquefied natural gas) business a kind of unprecedented situation: unprecedented demand from not only new emerging buyers China and India, but also the U.S." China plans to build over a dozen more new LNG terminals along its southern coast similar to the one in Guangdong province, which will

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